Gold prices could see some pressure in the short term, said Kishore Narne of Motilal Oswal Commodity.

"Trade war normally pushes up inflation and pushes down currency value, this is significant boost for gold. So, long term it is still bullish and short term there should be some pain,” he said.

He further added, “Absolute short-term, there is little bit of dollar weakness due to Donald Trump commenting on the interest rates so short term we are suggesting to buy Rs 29,870 for gold with Rs 29,700 as a stop loss and targets closed to around Rs 30,100, so it is a range bound short-term trade.”

First Published:Jul 23, 2018 5:48 PM IST